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. >> this is why we need a solution to the fiscal cliff. >> it comes down to the fiscal cliff. government spending. it is part of the sequestration. >> this is the whisker cliff. >> i am not sure sex change operation is part of the sequestration. >> there was a joke on that phrase, but i will let it pass. >> you can think of one? >> i did. bill, are you naturally hairless which is envied by all. >> he actually got a goatee that is all filled in today. >> thanks for noticing. it is here for all to see. >> looks like you like took an oreo cookie and crumbled it in a bowl and then put your face in it and then went like this. and then you say i just made a goatee out of oreo cookie crumbles. >> and i got a lot of carbs in me as well. >> do you have any comments on the story? >> there is a dividing line. unlike what lori said so uneducationally wise. >> what is that word? >> i minored in grammar. there is a difference. if you are a transgender i believe they are called, there is a difference between the ornamental and the fundamental. female genitalia that is fundamental to being a woman. hairless is n
and february. >>> on wall street stocks finished flat after a warning about a the fiscal cliff. dow closed down about 7 points. >> thousands of people will enjoy a turkey dinner this thanksgiving thanks to the generosity of a family owned restaurant. >> happy thanksgiving. >> for the fifth year in a row the 1515 restaurant staged their free turkey give away today. the family along with friends and other businesses handed out 2000 turkeys. they raise money through an annual golf tournament and get help from the community. >> we're blessed. we've been very fortunate through our lives. if we can give back, that's why we do it. >> the volunteers distributed the turkeys at the restaurant. >> all around the bay we've been seeing some rain. according to our chief meteorologist bill martin this is not the main event. >> just the stuff ahead of the front. the moisture out there is low level moisture bumping up against the coastal hills. making the roadways wet as you go into this afternoon commute. the real rain is not coming till 10:00, 11:00 tonight. we're looking at showers. couple live radars going
problems are going on, pay their bill. fiscal cliff is like down the listelist. >> up until november i think the fiscal cliff was a concern for business and you could see in confidence numbers coming off and the pullback in capital spending. consumers are feeling good, home prices are up, the job market has gotten a little bit better and you can see consumer confidence rising to the highest level of the recovery. but after the election now front and center all the coverage really is the fiscal cliff, the warnings, what might happen. that is finally, as a result, starting to hit home. in october, for example, very few people have the fiscal cliff on the radar screen. now half of them are worried about it. i think it has moved up the list now for the first time for consumers. melissa: to ask why they are not buying more, they will stand so darn right about that fiscal cliff, i will not get an extra toy. >> how they really feel it is the equity market is not doing well in the last month. that is what brings it home for consumers. you can ask how has the economy thabeen doing the last coup
message to lawwakers in washington, fix the fiscal cliff and don't kick the can down the road. the commons the fed chief has everybody talking. john, always great to see you. i want you to respond to something the fed chairman had to say this afternoon. listen to this. >>n a worst-case scenario where the economy goes off the broad fiscal cliff, the largest fiscal cliff, don't think the fed has the tools to offset that. gerri: don't look at me, can do anything if you can't avoid the fiscal cliff. what did you make of that? speak of the war is quite complicit dumb explicit. if the u.s. goes over the fiscal cliff, the jump in taxes woul likely quickly push the u.s. economy into a recession and there is nothing the fed cado to prevent that from happening. gei: it seems to have unloaded everytng they have, the economy has to come back on its own now. >> they can do with the bank of japan is now supposedly considering, resort to negative interest rate policy. consumerwould be charged to keep money in savings accounts. that is one way getting people to spend, i don't think that is likely to happe
but i am saying the majority of members of congress see the fiscal cliff we want to sit down and we want to get something worked out. >> if you appropriate some of the money you achieved by eliminating deductions and loopholes to the national debt, even though that may technically violate the pledge, sign me up. that's a reasonable accommodation for a republican to make. >> jennifer: for the record, that was senators john mccain and lindsey graham so the question is this grover norquist's last stand? here with an answer is donnie fowler. donnie of course, democratic strategist and great political operative. welcome back into "the war room." is it grover norquist's last stand? >> we can only hope. look, i think republicans should just say sign the pledge for the last election. not for this congress. it expired. there's only 39 of the 40 top senators and republicans -- six are freed. let his people go, grover. let your people go. >> jennifer: he ain't going to let them go. all of this is occurring in the contex
the fiscal cliff, that once again put pressure on the markets. that's when things turned down yesterday. you'll see in europe, barely budging at this point. in france, the cac is up by about a point. the ftse is down by less than five points. in germany, the dax is up by less than three points. overnight in asia, you'll see that in japan, the nikkei was up by about .8 of a percent. the shanghai composite up by about 1%. the hang seng was up by 1.4%. oil prices also up slightly, up about 72 cents. not near the higher levels that we had seen because of the concerns in the middle east. 84.7 is where wti stands. the ten-year note is yielding 1.661%. we do have those numbers coming out. the dollar sup across the board. euro is at 1.28. gold prices this morning are indicated up just barely up by about $2.60. >>> let's go across the pond. ross westgate is standing by for us in london. ross, good morning to you. >> good morning, andrew. good to see you ahead of thanksgiving. becky called it. we're pretty flat here in europe. the dow jones being outpaced a little bit more. as you say, the focus very
're 42 days from running off the so-called fiscal cliff. yesterday as you heard, rush limbaugh came down hard against raising taxes to solve this problem. he lamented the gop infighting whether to let the bush tax cuts expire on the richest americansp during a speech yesterday, federal reserve chairman ben bernanke who coined the term fiscal cliff warned of dire consequences if congress doesn't get their act together. >> spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat recovery. by the reckoning of the congressional budget office, the cbo, and that of many outside observers a fiscal shock of that size would send the economy toppling back into recession. >> let's translate that. according to the congressional budget office, falling off the cliff would cut the deficit but stop economic recovery in its tracks. now presidents in both parties usually try to put money in people's pocketses to stimulate the economy. president bush sent taxpayers a refund check while obama has cut payroll taxes. p falling off the cliff is a reversal of that ap
to make a down payment on the debt to make a down payment on the fiscal cliff, to give some predictability as to how we'll work our way out of the current budget stalemate so the market knows at least we're working together in a positive way. i don't believe we can get everything done in the next three to four weeks but i think we can make significant progress, avoid the across the board cuts, the so-called sequestration and give a blueprint on how we can work together with our political challenges. >> politico has a story, in their words, the absence of any significant concessions in what they're calling sort of an opener, an opening proposal from the gop at the table. nobody knows how serious -- how weighty their sources are, but should the market be worried about that? >> i think we have to wait to see how the specifics come down. it's a short period of time. we'll know in the next two weeks. seems to me from the republican point of view, they've already acknowledged that we need more revenues. the question is, how do we get there? there are different ways we can get the revenues we nee
to the fiscal cliff, another group of folks expected to meet -- expecting to get hit hard. i'm talking about college savers. my next guest says many families will be worse off next year compared to this year. here to explain, founder and publisher of stayed. welcome back to the show. always great to have you. let's start with this idea. what is the fiscal cliff? what is it going to do if we take the budget cuts to college students aids? >> well, in two ways. the sequestration will cut all student aid but the pell grant by 8 percent across the board. the pell grant sheltered in 2013. come 2014 and also will be cut automatically by 8%. american opporunity tax credit expires the end of 2012 as well. gerri: it sounds like -- and here is your number right here. the fiscal cliff hits it could result in a percent cut in federal student aid. clearly people are going to seek higher costs for college. how can a company that if they have to do it on their own diamond cannot borrow money? >> they need to say before college. every dollar you save is a dollar less you have to borrow. search for scholarshi
today and began by asking whether republicans will accept higher tax rates to avoid the fiscal cliff. >> well, one thing to look at is what happened two years ago, when you had the exact same situation. two years ago, you had a republican congress coming in, the democratic senate and the democratic president. that's exactly what you have today. two years ago, obama looked at the economy and said the economy is so bad, we should extend all of the tax rates and have not a tax increase. the economy is not any better than two years ago. one of the resting places might be to extend it out six months, a year, two years, four years, and focus on other things because there is not an agreement here. >> but republicans and speakers have already put tax revenue on the table. does that make the pledge not to raise taxes now meaningless? >> what he said was that he supports the idea of revenue have economic growth and tax reform as part of getting revenue for the government. we need to do that. revenue today is at an all-time low because the economy is so bad. we have 10 million fewer people work
back to work hammering out a deal to avert the fiscal cliff. grover norquist heads up americans for tax reform. he's is known in washington as a powerful force in the republican party and a strong voice against tax increases. darren gersh sat down with him today and began by asking whether republicans will accept higher tax rates to avoid the fiscal cliff. >> well, one thing to look at is what happened two years ago, when you had the exact same situation. two years ago, you had a republican congress coming in, the democratic senate and the democratic president. that's exactly what you have today. two years ago, obama looked at the economy and said the economy is so bad, we should extend all of the tax rates and have not a tax increase. the economy is not any better than two years ago. one of the resting places might be to extend it out six months, a year, two years, four years, and focus on other things because there is not an agreement here. >> but republicans and speakers have already put tax revenue on the table. does that make the pledge not to raise taxes now meaningless? >> what h
is that really our future? my guest six down with next. lou: six weeks we tours we hit the fiscal cliff the debt problems are of a if exacerbating problems of zero growth. joining us now executive chairman of bright part news , as steve bannon. how list by doing? >> excellent. we launched a new site right before andrew passed away with technology and new content almost 80,000 page views per month. we put content up everyday and these guys are on fire. lou: ben bernanke talking about a new normal that we would have a stubborn loss of skills, high unemployment , the zero growth, what is your reaction? >> they say this is the bernanke's side. look at chris or dirty but other money managers talk about historical growth rates of 4% that are baked into the obama budget are of the past. talk about the demographic wall, the low birthrate we will be less than 1% growth look at the economic crisis on top of a fiscal crisis. lou: the idea this country can sustain zero growth, high unemployment, it is not in our national day -- dna. i set my hat to whether bernanke or whoever that is not the way th
that is a reason why if there is no deal there could be tax hikes and spending cuts of that-fiscal cliff. >> h-p has fourth quarter losses. the tech giant saying that the tech giant says it's written down $8.8 billion of the value, autonomy.. h p paid of $11 billion for the company last year it said the company discovered is had misrepresented its finances. h-p stock has lost the building permits, hit a four year high last month with building started on an annual pace of 894,000 homes in october. sports, coming up next with tedford.. out. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to
bernanke is pushing for a compromise on the fiscal cliff. in a speech tuesday he said if president obama and congress can resolve the crisis unemployment would go down and the economy would grow. falling oil prices and an announcement that hewlett packard is taking a $9 billion write down. the dow lost just over seven points while the nasdaq was mostly unchanged. shares of home builders rallied on news that home construction jumped in october to a four year high. construction of apartment buildings was especially strong up 10%. and it looks like hostess's twinkie is cooked. the snack maker failed to reach mediation session. on monday a bankruptcy judge asked the two sides to meet. no agreement in place the judge will decide today if the maker of ho-ho, ding dongs and wonder bread can shut down their operations. hopefully other companies will swoop in and make those treats. >> it ain't over. you can't hold the twinkie down. >> i'm not sharing. >> ashley morrison here in new york. in sports this morning the lakers get a new coach and get a win. mike d'antoni made his debut as the lakers ne
the fiscal cliff. it will be such a crazy ride. new developments are being made, baby steps. a detailed progress report for top congressmen coming up next. and can really boost gdp by 5 billion just by paying retail workers a bit more? one report say yes. we will see of th if the math a. somebody is here to disagree with me. we will be right bac messa: lawmakers in washington hoping to avoid going over the fiscal cliff. each party is putting together a plan to submit to the president. are they making progress? let's ask texas republican congressman kevin dy, a member of the house ways and means committee. thank you for joining s. give us the truth. making any progress? >> at think we are. republicans understand the seriousns and urgency. to that end we have reached across the table to the outline a plan for increased revenue and stronger economy focusing on a much better and simpler tax code. what is missing in the equation, the balance is authentic spending cuts. waiting for the president to outline that times and spending cuts. sends a signal to the market and investors that america i
trouble for h-p. plus, traders are placing bets on the fiscal cliff. find out how the odds are stacking up. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's wednesday, november 21st. i'm angela miles. in today's first look: turkey tracks - trading volume is expected to be lighter than normal toward the end of the session as traders head home for the holiday. yesterday trading was a mixed bag of small gains and losses with the exception of oil, which fell $2. fed chair ben bernanke is urging lawmakers to strike a deal on the fiscal cliff sooner rather than later, otherwise the nation will return to recession. the obama administartion formally proposed new rules on healthcare, including requiring coverage for pre-existing conditions and minimum health benefits for millions. and in earnings after hours, rallied on better-than-expected news, while the zale fell 10% as the company lost some shine on earnings. larry shover of sfg alternatives joins us now. those reports larry of cease-fire coming
is -- there are multiple variables. it's not just the fiscal cliff. our economy is interdependent, we are dependent on europe and china and those economies are slowing down. inevitably, there is going to be job losses and those losses will lead to fragment. then there's the fiscal cliff. some countries will realize if we don't stop borrowing or start paying off the debt, they will stop lending. i think i agree with bernanke. i don't know if we can truly prepare if it's going to happen, as individual people. some people live paycheck to paycheck. those people might not be able to do well if that does happen. host: we will go to frankie on the republican line from virginia. thanks for joining us. caller: yes, as far as the fiscal cliff, i was wondering about maybe raising taxes. q. what are they planning on cutting? i live paycheck to paycheck. i was curious as to what people are planning on cutting instead of just raising taxes? host: you said you are living paycheck to paycheck. are you doing anything to prepare in case the u.s. goes off the fiscal cliff? caller: just try to work to make a living.
that will get us past the fiscal cliff. they will open themselves that they are kicking the can down the road. what they want to do is have longer-term negotiations about the big cuts. and brad was talking about potential increases for concessions in terms of actual tax revenue. that's going to take a long time. they're not going to get it done in the two weeks that they have before the start of the year in the fiscal cliff. so they will make some deals about extending the tax cuts in exchange potentially closing some loopholes you say the problem is not from the republicans, he could get more pressure from the right. he has been meeting with people like the unions, he has been meeting people with some of the liberal groups that have come in and said, you know, he doesn't have another election coming, but they don't them to be sold out in order to get a deal and avoid the fiscal cliff. he wants them to put pressure on republicans. the pressure is actually coming from the left on the president. i don't think it's getting much attention from the press. if the president does anything they don't
. what are the key questions on consumers this is how much the fiscal cliff ends up hurting them and their psyche moving into the holiday season. are they secure in their job and secure about their income? finally, getting the right savings rate right and the right debt level. are they willing to take on more debt? key questions, maria, but also better economics heading into this christmas season. back to you. >> steve, thank you so much. as shoppers prepare to flood the malls, which retailers will be the winners and losers? let's bring in our guests. good to see you both. thank you so much. break it down for us. who will come out again and shop and spend money this weekend? >> you bet. don't ever forget that black friday is all about sheer entertainment for the consumer. she loves a great deal. the retailers are absolutely going to deliver this year. so you're going to see a very deal-oriented consumer this particular weekend and on friday. but we're very optimistic. >> courtney, what are you seeing? the earlier shopping hours, is that helping? >> a lot of analysts think it will
continuing to take down for congress and president obama to make a deal to avoid going over the fiscal cliff. 40 days. our next guest says everyone should be preparing. no matter what changes are coming in 2013, well manager and president and founder joins me now. let's talk about this. i am sure many of your clients are coming in to you right now and saying we have got to do something, what we going to do? what do you tell them? >> absolutely. everybody wants to know what do we do and what is going to happen? if they don't come to an agreement we will all feel this. right there. [talking over each other] >> it is just a kleenex. the reality is when my clients come and i want to share with them a couple things we can control in our lives the coming weekend. taxes and that we are not going to control so let's look at the positives and control what we can control. if we have positives in the portfolio and gains i tell my clients to harvest those gains. if you doing many rebalance, some of my clients want to go on trips to italy, i am going to harvest that $10,000 and put it aside and a 15% on
a decade. so it bend the cost curve down going into the future. so that's where we are. fiscal cliff on january 1, if nothing is done, if the republicans, democrats can agree to something, taxes go up 500 billion. all of the 2001, 2003 tax cuts lapse. that's 500 billion in one year, 5 trillion over a decade. on top of that one of the obama taxes, 3.8% obamnicare tax on savings, investment, capital gains, dividends which takes a lot of those taxes up much i. all small businesses will face, subchapter s. corporations will pay not today's 35%, but about 44% of taxes. that's 20% increase in the tax rate that high income people are people make more than 200, two and 50,000 a year will pay but also half of all small business income. about 11 sub as, about 3 million see corporations like general motors that paid corporate rates, 35%. so we will see attacks on small businesses jumped as the president wishes more than just a 35 to 39.6, but up another three-point eight points on top of that. to what's going to happen? people talk about fiscal cliff. the aggregate several things. that's collap
Search Results 0 to 23 of about 24 (some duplicates have been removed)